The purpose of this policy is to notify departments within the University of
Arkansas for Medical Sciences (UAMS) of the procedures and practices associated
with the control of UAMS property, as stated in Act 876 of 1973, and to develop
a comprehensive Property Services program. UAMS has several million dollars in
major moveable equipment and furniture. This large amount of capital outlay
requires the establishment of a comprehensive property control program. This
program is designed to provide information that will benefit individual UAMS
departments as well as the Office of Financial Services, Property Accounting. It
should also insure that all capitalized major moveable equipment would be
controlled both for accounting and for inventory purposes. The key to both of
these functions is the immediate tagging of all capitalized property by means of
a property tag, and a narrative description of the property received. The
coordination of this policy involves the Office of Financial Services, the
Property Services Department and appropriate departmental personnel.
Consequently, it is essential that the authority, responsibility and duty of
each of these be clearly delineated, understood, and uniformly applied and
adhered to.

POLICY

Act 876 of 1973 states that the Director of each State agency shall be
accountable for all State property under his/her control and shall be
responsible for keeping and maintaining records of all such property. Moveable
property, as defined by Act 876, shall include any item of furniture or
equipment, which has a cost of $2500 or more, and has a useful life of two years
or more. For more details concerning the UAMS capitalization policy please
review Administrative Guide policy 8.5.01. It is the intent of this program to
provide for annual physical inventories conducted by the departments with the
assistance of the Property Services Department. Another intent of this program
to be multi-purpose. All UAMS departments must know what property is assigned to
them and for what property they are accountable. A second purpose of this
program will be to account for depreciation on property to be used in federally
funded programs and the Annual Cost Analysis Reports along with accurate
self-obtained data to be included in the annual financial statements.

PROCEDURE (GENERAL)

All property entering the UAMS
complex at Little Rock will be subject to a centralized shipping and receiving
process. The Property Services Department upon the receipt of the equipment
must accomplish immediate tagging. Facilities outside the UAMS complex must
have one person in each facility with delegated responsibility for tagging
property and submitting the receiving document to Property Services.

Each UAMS department will be held accountable for all property assigned to it,
whether the property is obtained from State funds, Federal grants or gifts,
and must maintain proper records of such property. As part of these records,
the department must maintain all supporting documentation associated with the
final disposition of property as defined by this policy for at least two (2)
years after the disposal of the property. Supporting documentation can include
but is not limited to Outgoing Shipment forms, Interdepartmental Transfer
forms, Report of Transfer of Property forms, and Release of Property
Accountability forms, or any other documents related to the transfer,
replacement, loss, destruction or trade-in of property.

One or more persons within
each department must be appointed to maintain and update property records for
that department. Each department must notify the Property Services Department
in writing of the persons selected to maintain property records. Any changes
in those designated personnel must be reflected in written memorandum to the
Property Services Department. All documents will be checked by the designated
property control personnel within each department to insure that transferred
and deleted property is no longer charged to their departments and that all
new equipment is tagged and the appropriate location is given.

All UAMS departments will be
required to conduct an annual physical inventory of all property within the
department, pursuant to Act 876 of 1973. At the time of inventory, all
property records must be brought up to date to reflect current available
property and also to reflect current location of property, department name,
and physical presence. The annual inventory will enable the Office of
Financial Services, Property Accounting Section to write off property no
longer in existence, to check the accuracy of the perpetual inventory process,
and to provide current and accurate data on all UAMS property. For additional
information concerning physical inventory procedures, see
UAMS Policy 5.4.02.

PROCEDURE (NEW PURCHASES)

5. Requisitioners will
prepare purchase request for equipment in the SAP system utilizing the correct
GL account codes for capital equipment. The requisition is forwarded to
Property Services where the assets will be created in SAP. The requisition is
released by Property Services and forwarded on to Procurement where the PO is
completed. Purchase Orders issued for the purchase of property
follow the UAMS Capitalization Policy defined by the Controller. Upon receipt of
all new property, Property Services will tag it. Departments purchasing property
for another department should notify Property Services in writing.

6. Departments requesting the
return of tagged property to the Vendor for credit, exchange, repair or trade-in
must complete an Outgoing Shipment Form1
and follow trade-in guidelines
in accordance with Admin Guide 5.1.14.

PROCEDURE (GIFTS AND GRANTS)

7.Departments
receiving property through gifts, donations and grants must contact the Property
Services Department in writing when the property has been received. The written
notification must include the name of the department and sub-department, a copy
of the invoice (if available from the donor), a description of the property, and an
identification of the location of the property. Upon notification from the
department that the property has been received, a representative of the Property
Services Department will physically inspect the property, affix a numbered tag
to the property, and enter the property into the Property Master Inventory File.

All property leaving UAMS,
including property received through gifts and grants must be processed through
the Property Services Department. Upon notification from the department that
the property is to be transferred from UAMS, the Property Services Department
will submit a request to the Director of Finance and Administration (DF&A) for
approval to delete property from the UAMS property inventory. Upon approval
from DF&A, Property Services will physically inspect and inventory the
property as it leaves the University.

PROCEDURE (PROPERTY LOCATED OFF-CAMPUS)

9. All UAMS property
located off-campus must be recorded on the
Property Located Off-Campus Form (see sample form on page 4). All UAMS
property located at sites other than officially designated UAMS lands and
facilities shall be considered off-campus for the purpose of this policy. For a
complete list of official UAMS locations contact Property Services at extension
686-5931. Property located off-campus may be used only as an extension of
regular UAMS business and not for any other purpose. Approval for use of UAMS
property off-campus must be obtained in writing from the Department Director,
and responsibility for such property will reside with the UAMS employee
utilizing the property. Property
Located Off-Campus Forms must be update annually.

PROCEDURE (PROPERTY TRANSFERS)

Departments requesting the transfer of UAMS tagged property to another UAMS
department (except on a temporary basis when the transferring department
expects the eventual return of the property) must complete a
Report of Transfer of Property Form. The completed Report of Transfer of
Property Form must include the UAMS tag number and other applicable data such
as the new location (room and building number). The Report of Transfer of
Property Form must be signed by the accountable officers (Property Contact
Persons) in both the transferring and receiving departments and forwarded to
the Property Services Department. Accountability for all property to be
transferred will remain with the original department until the Report of
Transfer of Property Form is completed, signed by all appropriate accountable
officers, and forwarded to Property Services. Property Services will send to
each department a copy of the transfer marked "Completed" at the end of the
process.

Departments requesting the shipment of obsolete, worn out or excess UAMS
tagged property to the Office of State Purchasing's Marketing & Redistribution
(M&R) Section must complete a Transfer of Property to Surplus Property Form. A
copy of the form can be obtained from the Support Services web site located at
http://ss.uams.edu

Departments requesting the
transfer of UAMS tagged property to another agency of the State of Arkansas
must submit a letter to the Property Services Department detailing the reasons
for the transfer. The Property Services Department will then prepare a
letter to the State Department of Finance & Administration (DF&A) requesting
approval for the transfer. No transfer shall be made until proper approval
from DF&A has been obtained.

UAMS nor any State Agency can
donate equipment or furniture to any organization of any type.

PROCEDURE (REMOVAL OF PROPERTY FROM INVENTORY)

Departments requesting the
removal from property inventory records of stolen or missing property, or
property cannibalized for parts must complete and submit to the Property
Services Department a
Release of Property Accountability Form (see sample form on page 8).
Departments whose equipment is cannibalized by Physical Plant or Biomedical
Engineering must also meet this requirement. An accountable officer for the
requesting department must complete the form. In addition, the Property
Services Department is required by State Accounting Procedures to submit a
request to the Director of the Department of Finance and Administration to
delete property from the UAMS property inventory. The Property Services
Department on behalf of all UAMS departments as defined by this policy shall
make all contact with other state agencies concerning property

PROPERTY
SERVICES DEPARTMENT

PURPOSE

The purpose of the following procedures is to insure that the Property Control
System is implemented and maintained on an ongoing and current basis; to insure
that all moveable property is tagged and entered into the automated Property
Control System so as to reflect current and accurate data; and to supervise this
program and the annual physical inventory process.

PROCEDURE (GENERAL)

The Property Services Department
will review new asset in the SAP system once value has settled to the asset.
At that point, the asset will be copied into the Scanventory Asset Tracking
System for the inventory scanning and ad hoc reporting.

Upon receipt of the property,
the Property Services Department will tag all property.

The Property Services
Department will provide to all departments any assistance or information they
require to maintain and control this property control program.

Property records will be
maintained by Property Services and made available to departments as follows:

Capitalized equipment by equipment code or
classification and tag number.

Property purchases and
deletions by account (monthly and yearly).

Records of stolen, lost or
destroyed equipment.

PROCEDURE (TAGGING)

Property Services will
determine from the expense code on the Purchase orders what property is to be
tagged.

Property Services will inspect
the item to verify that it is the same as described on the Purchase Order and
the packing slip. As part of this inspection, the serial number on the item
will be compared to the serial number listed on the Purchase Order and/or
invoice, if applicable.

Property Services will log the
property tag number and enter the information onto the Master Inventory
Listings.

Property Services will ensure
that the tag is located in an easily accessible position without distastefully
marring the appearance of the piece of equipment. Suggested placements of the
tag are as follows:

Office Furniture: Bookcases,
filing cabinets, etc. The tag will be located in the upper right hand corner
as you face the piece of furniture.

Desk: Tag will be located in
the leg well toward the front.

Small Equipment (easily
handled): The tag will be located as close as possible to the serial number.

Large Equipment (not easily
moved): The tag will be located in the upper right hand corner as you face
the piece of equipment.

Computers: The tag will be
located in lower left-hand corner as you face the equipment.
Tower units will be tagged on the top of the case.

Paintings, photographs, and
other framed artwork: The tag will be located in the lower right hand corner
in the back.

The
Property Located Off-Campus Formis available through the Support
Services Website. The form is to be used to identify UAMS Property located
off-campus. An employee's place of residence is the most common off campus
location where UAMS Property is utilized. All UAMS locations are identified by
Property Services. To acquire a list of official UAMS sites call extension
686-5931.

COMPLETING THE FORM

Property Tag No.: Enter the
property tag number of each piece of UAMS property located off campus.

Description/Serial Number:
Enter a description and the serial number all UAMS property located off
campus.

Location: Identify the
location of each piece of UAMS property located off campus, i.e. list the
complete address where the property is located.

Print Name of Person
Responsible: Either print or type
the name of the person responsible for the property located off campus.

Signature of Person
Responsible: Enter the signature of the person responsible for the UAMS
property located off campus.

Department Name: Enter the
name of the department of the person responsible for the UAMS property located
off campus.

Dept. No.: Enter the
department number of the responsible department.

Department Head Signature:
Enter the signature of the Department Head.

Date: Enter the date the form
is completed.

Forward the completed form to
Property Services, # 759.

INSTRUCTIONS
FOR REPORT OF TRANSFER OF PROPERTY

GENERAL INFORMATION

The
Report of Transfer of Property is available through the Support Services
Website. The form is to be used to report the transfer of property between
departments. The transferring account officer should forward the original to the
department receiving the property. A copy should be forwarded to Property
Services. The transferring department should retain a copy. The receiving
department should acknowledge receipt and forward the original to Property
Services.

COMPLETING THE FORM

From Department: Enter the
name of the transferring department.

Location: Enter the location
of the transferring department.

Dept./Project Code No.: Enter
the department number of the transferring department.

To Department: Enter the name
of the receiving department.

Location: Enter the location
of the receiving department.

Dept./Project Code No.: Enter
the department number of the receiving department.

a.Signature of
Accounting Officer: Enter the signature of the transferring department's
accounting officer.

b.Typed (Printed)
Name/Title: Enter the name and title of the transferring department's accounting
officer.

c.Dean, Director,
Department Head: Enter the name of the Dean, Director, or Dept. Head of the
transferring department.

d.Date: Enter the
date the transfer department processes the form.

13. RECEIVING DEPARTMENT:

Signature of Accounting
Officer: Enter the signature of the receiving department's accounting officer.

Typed (Printed) Name/Title:
Enter the name or title of the receiving department's accounting officer.

Dean, Director, Department
Head: Enter the name of the Dean, Director, or Dept. Head of the receiving
department.

Date: Enter the date the
receiving department processes the form.

Forward the completed form to
Property Services, # 759.

INSTRUCTIONS
FOR RELEASE OF PROPERTY ACCOUNTABILITY FORM

GENERAL INFORMATION

The
Release of Property Accountability Form is available through the Support
Services Website. The form is to be used by any UAMS department requesting to be
relieved of accountability for property that is shown on the department
inventory listing but that is no longer in the possession of the department due
to loss, theft or destruction. The department's accountable officer should
complete and forward the form to Property Services, along with any back-up
documents which may assist in certifying the actual disposition of the property
such as Outgoing Shipment Forms, Invoices, or Interdepartmental Transfer Forms.

COMPLETING THE
FORM

Accountable Officer: Identify
the name of the departmental employee who is accountable for the department's
property.

Department Number: Enter the
department numbers identifying the department requesting relief from
accountability for the property described on this form.

Dept. Name: Enter the full
name of the department requesting relief from accountability for the property
described on this form.

Date: Enter the date on which
this form is initiated by the requesting department.

Item No.: Enter the sequential
number for each item to be released from inventory accountability (if five (5)
items are identified, number each item 1-5).

Property Tag No.: Enter the
property tag number, which was assigned, to each lost, stolen or destroyed
item.

Description: Enter a brief
description of the lost, stolen or destroyed property.

Item Cost: Enter the cost of
each item as identified on the Inventory records.

Disposition Number: Indicate
the disposition of each item being requested for release from accountability
by checking the most appropriate of the eight (8) possible dispositions listed
at the bottom of this form.

Forward the completed form to
Property Services, mail # 759.

Note: The requesting department should not write in or sign the "U.A.M.S.
Approval" line. The Property Services Department will provide an institutional
approval signature on this line